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IBD sees market in correction

Thursday, April 18, 2013Wednesday, April 17, 2013 @ 7:00 am by Dr. Wish
GMI4/6
GMI-22/9
T210839%

Wednesday was 32nd day of QQQ short term up-trend, but it could reverse on Thursday. But with the put/call ratio around an extreme 1.2, the market could bounce.

2 Comments

GMI back to 6, but rocky open coming

Wednesday, April 17, 2013 @ 7:02 am by Dr. Wish
GMI6/6
GMI-26/9
T210850%

With futures down a lot this morning, it looks like we might test Monday’s low today.

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GMI declines to 4

Tuesday, April 16, 2013Monday, April 15, 2013 @ 7:00 am by Dr. Wish
GMI4/6
GMI-23/9
T210841%

QQQ short term up-trend in jeopardy. T2108 plunges to 41%. IBD back to “up-trend under pressure.”

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Current GMI Signal

RED

since close on JUL 20, 2026

Successful GLBTracker

Selected stocks that have had a successful recent Green Line Breakout (GLB). One can really profit by buying stocks breaking out to all-time highs after a consolidation of 3 months or more, my GLB Setup.

Sym.DateGLB $Now $Chg.
ENLT6/18/25$20.44$85.78319.67%
SFM1/29/24$49.45$86.8575.63%
CRS4/23/24$79.66$503.71532.32%
AGX9/6/24$76.70$579.87656.02%
BTSG9/9/25$25.57$72.88185.02%
APP9/17/24$116.09$403.87247.89%
EAT10/1/24$78.33$209.86167.92%
PLTR11/5/24$44.91$122.26172.23%
ALMS1/6/26$13.53$28.95113.97%
BE8/22/25$44.95$207.12360.78%
CLS5/1/25$87.00$352.59305.28%
RGC5/1/25$1.55$5.94283.23%
CCJ6/9/25$62.55$88.2341.06%
RHLD8/12/25$54.05$126.72134.45%
GEV5/20/25$447.50$981.98119.44%
CLS6/25/25$144.27$352.59144.40%
MIRM8/7/2025$54.23$112.59107.62%
CCJ6/9/25$62.55$88.2341.06%
WDC9/4/25$86.66$533.04515.09%
SNDK9/4/25$58.36$1,279.962093.21%
STX6/3/2025$117.67$851.68623.79%
TTMI6/3/25$30.41$115.51279.84%
MU9/29/25$157.54$874.66455.20%
INBX7/8/25$18.95$84.73347.12%
SPHR9/11/25$56.08$148.32164.48%
FIX7/24/25$553.09$1,697.84206.97%
MU9/25/25$157.54$874.66455.20%

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  • About the General Market Index (GMI)
  • Welcome to the new *and improved* Wishing Wealth
  • How to use IBD 100 and New America stocks and TC2007 to find potential rocket stocks; Market rally begins
  • 6th day of $QQQ short term down-trend; GMI could signal a Buy
  • The new 3x ETF’s–triple your pleasure — or pain
  • In the hospital. Will resume posting next week. Thank you for your patience.
  • How I use put options as investment insurance
  • My first YouTube Vlog (video blog) Post: Sell in May and Go Away?
  • So, Wishing Wealth Reader, Tell Us About Yourself…
  • Blog post: David, my co-presenter, brilliant colleague of 20+ years died in a freak accident on 2/18; Day 35 of $QQQ short term down-trend; 15 promising stocks to monitor
  • Blog: Day 19 of $QQQ short term down-trend; Look at the daily modified Guppy chart. Was Thursday a dead cat bounce? The market’s action will reveal the answer during the post earnings season period.
  • Blog: Day 18 of $QQQ short term down-trend; If I had bought SQQQ on Day 1 of the down-trend, I would be sitting on a gain of +29%. See the daily chart of SQQQ.
  • Blog: $IMAX had a high volume GLB (green line breakout) on July 23rd when they reported earnings, and closed Tuesday at an ATH. Homer would be proud, and rich……
  • Blog: Modified Daily Guppy chart shows the current trend for $QQQ. QQQ is very oversold with Friday’s SFS (super fast stochastic) below 10. So QQQ may bounce this week. GMI remains RED, however. See Guppy charts for QQQ, AAPL, JNJ and the GMI table.
  • Blog: Day 14 of $QQQ short term down-trend; UGA, the U.S. gasoline fund had an ATH today and a GLB last March. See weekly and monthly charts.

Blogroll

  • Barchart All-Time Highs
  • Blue Collar Investor
  • CNNMoney: Pre-market Futures
  • Dark Liquidity
  • Seeking Alpha
  • Stock Chartist

Recommended Reading

QQQ and TQQQ ETF Profit Machine Momentum Masters - A Roundtable Interview with Super Traders - Minervini, Ryan, Zanger & Ritchie II Alan Ellman's Selling Cash-Secured Puts: Investing to Generate Monthly Cash Flow Stock Investing For Students - a plan to get rich slowly and retire young Trade Like a Stock Market Wizard: How to Achieve Super Performance in Stocks in Any Market Exit Strategies for Covered Call Writing: Making the Most Money When Selling Stock Options Complete Encyclopedia for Covered Call Writing Wall Street The Other Las Vegas How to Make Money in Stocks: A Winning System in Good Times and Bad, Fourth Edition Trend Trading: A seven step approach to success How Legendary Traders Made Millions: Profiting From the Investment Strategies of the Gretest Traders of All time The Complete TurtleTrader: The Legend, the Lessons, the Results How to Make Money Selling Stocks Short Reminiscences of a Stock Operator Stan Weinstein's Secrets For Profiting in Bull and Bear Markets Lessons from the Greatest Stock Traders of All Time How I Made $2,000,000 In The Stock Market

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